The European Union (EU) on Monday approved a €100 million package to support Afghanistan in bringing reforms to improve its development policies, maintain macroeconomic stability, advance public financial management and strengthen state budget transparency.

Afghan Minister of Finance Ekill Hakimi spoke on the occasion and said the financial assistance will be allocated on a number of specific fields and that the money will be spent through the national budget.

“The approval of this allocation means that Afghanistan has been making significant progress in crucial areas such as public policy, macroeconomic, financial management and budget transparency and oversight,” he said.

“We welcome conditionality-based mechanism, such as the State-Building Contract, they give the government of Afghanistan flexibility and fiscal space to respond quickly to our countries evolving development priorities and reaffirm our mutual commitments to see a prosperous, stable and self-reliant Afghanistan,” he added.

At the same event, the EU ambassador to Afghanistan, Franz-Michael Skjold Mellbin, said the European Union member nations will continue their cooperation with Afghanistan in years ahead.

“The allocation approved today is a very tangible demonstration of the EU’s long-standing commitment to Afghanistan and its people,” he said. “Following an overall positive review of progress on key reform commitments, the EU’s State Building Contract makes a direct contribution to the National Budget and provides the Government of Afghanistan with substantial financial resources and flexibility to allocate these where they are most needed.”

He said their purpose is to improve services to Afghans, boost economic growth and reduce poverty in Afghanistan.

The Afghan government has committed to the international community to undertake a number of important steps towards improving good governance, economic empowerment of the women and providing services to the public.

Source: http://www.tolonews.com/business/eu-approves-100m-euros-aid-package-afghanistan

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